Giving Stock Through Overflow
Donating appreciated stock allows you to maximize your impact while potentially saving more on taxes. Overflow makes it easy to donate online in less than 5 minutes.
FAQ
Overflow is a digital solution for donating non-cash assets, enabling donors to give in a tax-efficient way. Donors can experience the ease of giving via stock or crypto in less than five minutes from their mobile device. Overflow also provides givers access to a private Donor Portal which enables visibility into transaction history, transaction statuses, and the ability to update connected financial accounts.
Overflow’s Information Security Program is SOC 2 compliant, a widely respected information security auditing procedure. Overflow does not have access to nor stores any brokerage account usernames or passwords. They use Yodlee, a third-party provider, that handles the brokerage login process. Over 600 companies including PayPal, Mint, and Amazon use Yodlee to connect their clients’ accounts.
Donating appreciated stock that you’ve held for over a year could allow you to save up to 20% in capital gains taxes and potentially up to 37% in federal income taxes on the charitable donation value of your gift based on your tax bracket when itemizing deductions. To understand the full tax benefits of giving appreciated stock, including potential state tax savings, please consult with your tax professional for information about your personal tax implications.
You can give any publicly traded stock through Overflow. By donating assets that have appreciated in value for more than one year, you are more likely to maximize the potential tax benefits.
Overflow can process all whole shares of publicly traded stock, including 401Ks and IRAs. However, because donors often incur penalties for withdrawing these assets before a certain date, we highly recommend consulting your tax professional before donating these types of assets. Donating 401Ks or IRA could result in major tax penalties or even fewer tax benefits than donating cash.
If you received company-distributed stock as an employee and the trading window is not open, your brokerage will likely reject the transfer request. We highly advise you ask your company for the trading windows and give during those time periods, which typically are open quarterly for 3 to 4 weeks at a time.
Overflow currently supports over 10 brokerages via their self-guided platform including the most popular brokers such as Charles Schwab, Fidelity, and E*Trade. If Overflow doesn’t have a direct connection to your brokerage account, your gift can still be fulfilled through their off-platform concierge service. If you are in Overflow’s donor experience and your brokerage account is not one of the 10+ currently supported with a direct connection, you’ll be taken to a form to contact Overflow’s transaction operations team. You can also choose to opt into Overflow’s fully-guided concierge service by emailing stockgifts@overflow.co.
